According to Nathanson, the buyer was a regional entity; theseller was a national shopping center developer. The legal owner ofthe property before the trade was Whitehall Newman Associates. Thenew owner plans to leverage the site's main selling points,Nathanson tells GlobeSt.com: a rare infill location in thissubmarket that can accommodate 166,609 sf and that is occupied by acreditworthy tenant. There were between 10 to 20 bidders for theproperty.

Located at 2650 MacArthur Rd., the property is situated on Route45, a six-lane highway that is Lehigh Valley's main retailcorridor. "It is difficult to find available acreage of that sizeon that particular stretch," he says. Also, "there are fewcreditworthy big box ground leases that aren't owned by the tenantthemselves." Lowe's has signed a 20-year triple net ground leasefor the space. Originally the property had been a Levitz Furniturestore that was vacant when the developer acquired it. Lowe's openedits doors in October, Nathanson says.